The Bureau of Labor Statistics (BLS) reported slightly lower job numbers than anticipated for December 2017. However, the national employment rate remained unchanged and wages saw a slight uptick going into 2018.
Tax law changes, coupled with minimum wage legislation in some states, should have a positive impact on low wage workers in 2018, although not enough to truly move the needle to a meaningful extent. HRDive reports the big winners are workers in hard-to-fill positions who are able to demand top dollar for their skills.
Other factors are also influencing the labor market in early 2018. According to Randstad Sourceright CEO Rebecca Henderson, many employers are turning to the contingent workforce in response to uncertainty. Hiring talent on-demand can not only help meet immediate needs, but also futureproof businesses against continued change.
See HRDive for additional details on December’s job numbers, and read more about the latest contingent talent trends on our managed services programs (MSP) insights stream.
